Morgan Stanley Sees 3Q EPS Miss for Urban Outfitters

In a report published Tuesday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Equal-Weight rating and $31.00 price target on

. In the report, Morgan Stanley noted, “URBN's 3Q showed more of the same: Anthro and Free People remain healthy businesses while UO works to re-tool stores to match its eComm strength. Given low visibility on UO's turn around and gross margin recovery, at 16x weremain E/W.” Urban Outfitters closed on Monday at $30.83.